Taxing refunds; billions in employment tax violations; school’s in, eventually; and other highlights from our favorite tax bloggers.
Stupid and uninformed
- Wolters Kluwer (
http://news.cchgroup.com/ ): Two South Dakota sales and use tax bills have been introduced in response to Wayfair and they would, if enacted, affect remote sellers and marketplace providers. - Dinesen Tax Times (
http://dinesentax.com/blog ): So why does Iowa tax federal refunds? “Though annoying, it is in fact not double taxation.” - Procedurally Taxing (
http://procedurallytaxing.com ): in Thompson v U.S., an opinion from the Northern District of California explores the limits to an exception to the 10 percent penalty on early withdrawals from tax-favored retirement plans when the distribution is used to pay an assessed federal tax liability on account of a levy. - Taxable Talk (
http://www.taxabletalk.com/ ): Should enrolled agents violate state laws or federal? Opening with, “No state legislature could be that stupid-uninformed, right?” a look at Nevada’s recent reclassification of EAs as professionals who perform “document preparation services.”
Job woes
- Intuit Proconnect (
http://taxprocenter.proconnect.intuit.com/ ): A look at a recent analysis showing that employment tax violations have hit $123 billion since 1995 — and a crime on the “steady incline” even as annual convictions don’t even break 100. - National Taxpayer Advocate (
https://taxpayeradvocate.irs.gov/about/nta-blog ): The IRS offers a First Time Abatement program that is intended to be, and often is, taxpayer-favorable. But as implemented, the FTA sometimes overrides the reasonable cause abatement and disadvantages taxpayers. How the scope of this problem will increase dramatically if the IRS follows through with its current proposal to automatically apply the FTA. - Houston Tax Attorney (
http://www.irstaxtrouble.com/category/tax-blog/ ): The IRS often challenges tax-loss deductions, often by challenging the year in which the loss is allowable. In terms of assets losing value over time, the recent Forlizzo v. Commissioner case exemplifies the importance of an asset’s decline in value. - Taxjar (
http://blog.taxjar.com/ ): A look at the importance of a letter ruling from the state, and how to request one. - Summing It Up (
http://blog.freedmaxick.com/summing-it-up ): True, the TCJA didn’t change the R&D credit, but repeal of the corporate AMT did expand the potential benefit to all corporations that were in AMT.
Season’s greetings
- Tax Girl (
http://blogs.forbes.com/kellyphillipserb ): Are taxes the reason some schools start late? And how do amusement parks and late-summer vacation spending fit in? - The Income Tax School (
http://www.theincometaxschool.com/blog/ ): How can you plan now to make next season smoother for you and your clients? Making the best use of the “small window” between summer’s end and the sluice run of the holidays includes acting on your marketing plan, mailings to clients, and lining up seasonal help, among other moves. Where did 2018 go? - Taxbuzz (
https://www.taxbuzz.com/blog ): What basics to remind them of regarding tax advantages of retirement accounts. - Tax, Society & Culture (
http://taxpol.blogspot.com/ ): A look at the agenda for this year’s upcoming 2018 McGill Tax Policy Colloquium at McGill Law. Speakers will include researchers on tax dispute resolution, tax policy, and taxation and benefits for and of families, among others. - Turbotax (
https://blog.turbotax.intuit.com ): How your client’s dog can save them taxes.
